Just took a glance at the Beyond Meat stock, which has already gone bankrupt. It is said that this stock is also an old player in the US stock market. The concept of artificial meat was extremely popular during the environmental protection era a few years ago. When it went public in 2019, it was the hottest era for ESG (Environmental, Social and Governance) and plant protein concepts. The IPO price was only $25, and on the first day, it skyrocketed to $65, with a peak of $239. Its market value exceeded $13 billion, making it the "artificial meat version of Tesla". At that time, almost everyone was saying, "The future of meat belongs to plants I used to play for a while before, and the stock price was still around one or two hundred yuan. After years of not paying attention, it had already fallen to single digits. The biggest problem with Beyond Meat is that its business model cannot fulfill its capital story. The cost of plant-based protein meat is too high, the taste is too "plastic", and the consumer repurchase rate is extremely low. Especially after high inflation and falling meat prices, the cost-effectiveness of artificial meat has completely collapsed. After 2021, the company's revenue continued to decline, and its gross profit margin was even negative at one point. The ESG concept and green consumption attracted a large number of fund allocations that year, but since the start of the Fed's interest rate hike cycle in 2022, the liquidity squeeze has directly exposed the true nature of "storytelling stocks". Funds are starting to chase after companies with stable cash flows, and concept stocks like Beyond Meat, which rely on narrative support, are naturally marginalized. You're absolutely right about holding your chest. When this stock rises, it's easy to associate it with the once popular GME, the game station event where retail investors battled Wall Street. At that time, it was really a traffic code for various media outlets. Of course, in the end, individual investors were unable to defeat capital, only one wave of capital triumphed over another. Unlike GME, which has a strong Reddit community mobilization and a narrative of "defeating hedge funds," Beyond Meat does not have the same mass base. Its rebound is mostly short-term speculation. Today's circuit breaker is likely to be some kind of "violent short covering" or an amplification of market sentiment fluctuations, rather than a fundamental reversal. But there is also a possibility that, as liquidity is about to return, this demonic stock carries the beautiful memories of the previous cycle and is remembered by investors, so it is the first to stir up. Beyond Meat is like a symbol, a remnant of an era. It once symbolized "innovation," "environmental protection," and "revolutionary track." In the last wave of liquidity flooding, many retail investors witnessed the illusion of "wealth freedom" in this type of stock. Nowadays, when the market begins to yearn for interest rate cuts, loose liquidity, and a rebound in risk appetite, those dormant memories will be awakened. This is actually the 'Echo Effect' of cyclical narratives, which can be found in multiple cycles in the past. The essence of such market trends is that funds explore the boundaries of liquidity regression. They don't look at performance, they only look at resonance. A circuit breaker does not necessarily indicate a logical reversal, but it suggests that 'someone wants to go back to the golden age'. Anyway, it's a good thing.